Technical Review $SOL /$USDC (D1 + H4)
1️⃣ D1 (Daily timeframe):
On the daily chart, we see a bright breakdown of shorts with two bars at the period's minimum, one of which is accompanied by a huge volume and an engulfing pattern.
The short structure has clearly been broken, our long-term direction is LONG.
Target for upward movement: 179.48.
RSI (D1) also confirms the upward divergence, the indicator remains above 50, thus the upward trend is not broken.
2️⃣ H4 (4-hour timeframe):
Locally, the situation is opposite: we have a clear breakdown of longs with a vertical confirmation line and a downward engulfing pattern.
The nearest support is at the mirror level of 135.33, where we are heading.
RSI (H4) is forming a clear bearish divergence, confirming the current short-term short.
There is a significant volume of short contracts in the market, indicating the authenticity of the downward movement.
📌 Conclusion: Despite the local short, the higher timeframe (D1) is still in longs. Longs are not canceled, they are only postponed due to the current situation. A continuation of the short to 121 or even to 113 is possible, especially considering the negative news regarding the ETF on SOL.
🔖 Overall strategy: At the moment, we are trading short. We are waiting for the completion of the downward correction and a return to the global upward movement.
Trading is patience. We are waiting for a successful entry into LONG!
